Check out the companies making headlines in midday trading. Micron – Shares of the semiconductor manufacturer rose 14% after beating analysts' expectations for its fiscal second-quarter earnings and revenue. Micron reported earnings of 42 cents per share on revenue of $5.82 billion. Analysts surveyed by LSEG expected a loss of 25 cents per share on the $5.35 billion in revenue analysts had expected. The company also guided for higher third-quarter earnings and revenue than agreed upon. Apple – The technology stock fell 3.2% on news that the Department of Justice was suing Apple. Regulators said the iPhone ecosystem is a monopoly and anti-competitive practices appear in multiple areas of business. Astera Labs – the data center chipset vendor jumped 14.1%. This adds to the 72% rise it saw on Wednesday, which was its first day as a publicly traded company on the Nasdaq. Li Auto – Shares of the US-listed Chinese electric car maker fell 7.5% on weak guidance for first-quarter deliveries. Lee told investors to expect 77,000 vehicles at the midpoint, down from the previous estimate of 101,500. Chewy – Shares of the pet goods retailer fell 6% in the wake of disappointing first-quarter guidance. Chewy said it expects revenue between $2.84 billion and $2.86 billion for the quarter. Analysts surveyed by LSEG had expected $2.89 billion. FIVE BELOW — Shares of the discount retailer came under pressure, falling 14% a day after the company reported weaker-than-expected fourth-quarter earnings and revenue. Five Below also released current quarter and full-year forecasts for the top and bottom quarters. Guess what? The clothing designer's stock rose 23.1% after its latest earnings beat expectations. Guess reported adjusted earnings of $2.01 per share on revenue of $891 million, while analysts polled by LSEG expected $1.56 per share on revenue of $856 million. Darden Restaurants – Shares fell 5.7% after parent company Olive Garden and LongHorn Steakhouse missed revenue expectations. Darien reported revenue of $2.97 billion, below StreetAccount's forecast of $3.02 billion. Earnings per share were in line with expectations at $2.62. Paramount Global – The media and entertainment stock fell 4.6% after CNBC's David Faber reported that the company is not interested in selling its studio apart from other assets as it continues sale discussions. The update throws cold water on a report from The Wall Street Journal on Wednesday that Apollo Global Management offered $11 billion for Paramount's film and TV studio. That report sent the stock up 11% on Wednesday, before giving up some gains on Thursday. Accenture – Shares of the consulting company fell 8.1% after fiscal second-quarter revenues fell short of analysts' expectations. Accenture reported $15.8 billion, below estimates of $15.85 billion from analysts surveyed by StreetAccount. Revenue guidance for the current quarter was also below analyst expectations. FactSet – The research platform fell 6.7% after fiscal second-quarter revenue came in lower than expected. FactSet reported $545.9 million, below the $546.8 million consensus estimate of analysts surveyed by StreetAccount. On the other hand, diluted EPS beat expectations, coming in at $4.22 versus Wall Street's expectations of $3.90. Illumina – Life sciences stock rose 3.5% after an EU court adviser said regulators exceeded their authority in blocking Illumina's bid for healthcare company Grail. Broadcom – The chip maker's stock rose 8.1% on the back of TD Cowen's upgrade to outperform. TD Cowen said the stock could see further upside related to its artificial intelligence business. Revolve Group – The fashion retailer added 3% after an upgrade to outperform the market by TD Cowen. Revolve should return to growth after a difficult year that required price cuts, the company said. Nvidia – The chipmaker saw an increase of more than 1% after TD Cowen reiterated its outperform rating on the stock and increased its price target, citing the company's “computing leadership across the stack” following the unveiling of its Blackwell platform. Sunnova – Residential solar stock jumped 12.2% after Goldman Sachs said it stood behind a buy rating. After this year's dive, Goldman believes the stock could now rise nearly 200%. Nextracker – Shares rose 2% after Baird initiated coverage of the solar tracker technology company with an outperform rating. The Wall Street firm said Nextracker is a compelling investment, with a “simplified business model, healthy balance sheet, and differentiated technology.” — CNBC's Lisa Kailai Hahn, Tanaya Machel, Sarah Min, Jessie Pound and Sarah Salinas contributed to the report Correction: The Wall Street Journal reported on Wednesday that Apollo Global Management had offered $11 billion for Paramount's film and TV studio. An earlier version misstated the day of the week.
